Monthly report · Scotland

The State of Scottish Tech, May 2025

£18.5m across 4 funding rounds on ayeoh's record in May 2025, with the investors, sectors and cities behind them and the stories readers read.

£18.5mraised in May 2025 across 4 rounds, 1 undisclosed

£12.1min April 2025, across 7 rounds

£162.2min 2025 to the end of May 2025, across 22 rounds

Month by month

Disclosed funding each month, June 2024 to May 2025: Jun £24.2m, Jul £25m, Aug £23.5m, Sep £23.6m, Oct £750k, Nov £4.3m, Dec £20.8m, Jan £22.2m, Feb £44.6m, Mar £64.9m, Apr £12.1m, May £18.5m.

The biggest rounds

Ace Aquatec raises £10m

2 May 2025 · Growth · Agritech · Dundee · DIGIT · Ace Aquatec on ayeoh

Neuranics raises £6.2m

20 May 2025 · Series A · Hardware · Glasgow · Insider · Neuranics on ayeoh

Cyacomb raises £2.25m

14 May 2025 · Growth · Cybersecurity · Not stated · FutureScot · Cyacomb on ayeoh

Sectors by money

Agritech£10m · 1 round

Hardware£6.2m · 1 round

Cybersecurity£2.3m · 1 round

EnvironmentUndisclosed · 1 round

Cities by money

Dundee£10m · 1 round

Glasgow£6.2m · 1 round

Not stated£2.3m · 1 round

EdinburghUndisclosed · 1 round

Investors named in the most rounds

Scottish Enterprise

2 rounds · £10m across those rounds, whole rounds, not its own share

Aqua-Spark

1 round · £10m across those rounds, whole rounds, not its own share

Stolt Ventures

1 round · £10m across those rounds, whole rounds, not its own share

Archangels

1 round · £6.2m across those rounds, whole rounds, not its own share

Blackfinch Ventures

1 round · £6.2m across those rounds, whole rounds, not its own share

Every round of May 2025: the month's funding report · the tracker, filtered to May 2025 · Scottish tech funding by city and sector, to May 2025 · For journalists

Today's Scottish tech news on the front page

How this is made. Every figure is computed from ayeoh's record: the funding rounds and grants announced in May 2025 (UK time), summed on their stored pounds, a round with no disclosed amount counted and not added; investors by the rounds they are named in, the money the whole rounds'; hiring, closures and acquisitions as the record holds them, each linked to its source; and the stories by clicks through from ayeoh to the outlet, a count with nothing about the reader.

Cite as. ayeoh, The State of Scottish Tech, May 2025, https://ayeoh.io/reports/2025-05.

Licence. The funding data and figures are licensed under Creative Commons Attribution 4.0 International: reuse them freely, commercially too, crediting "ayeoh.io" with a link to https://ayeoh.io. CC BY 4.0.